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Norway's Wallenius Wilhelmsen Q3 profit rises on Asia shipping demand

By Reuters News


Overview

  • Norway RoRo shipping and vehicle logistics firm's Q3 revenue rose 7% QoQ, adjusted EBITDA up 19%

  • Net profit for Q3 rose 53% QoQ

  • Company raised $300 mln in equity to fund expanded newbuilding program


Outlook

  • Wallenius Wilhelmsen maintains 2026 adjusted EBITDA outlook of about $1.6 bln

  • Company says shipping capacity is fully committed for 2026

  • Company reports strong customer interest in securing long-term shipping capacity


Result Drivers

  • SHIPPING DEMAND - Co said increased demand for shipping services out of Asia supported higher freight and charter rates

  • SHIPPING SERVICES PERFORMANCE - Improved performance in Shipping and Government services contributed to higher adjusted EBITDA

  • CONTRACT AWARDS - Recent large contract awards contributed to a strong book of business and long-term capacity commitments


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Adjusted EBITDA

$428 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the marine freight & logistics peer group is "buy"

  • Wall Street's median 12-month price target for Wallenius Wilhelmsen ASA is NOK195.00, about 16.1% above its November 3 closing price of NOK168.00

  • The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago


Reuters Recommended Reads

  • Nov 3 - Ardmore Shipping Q3 revenue beats estimates on higher spot charter rates

  • Nov 3 - Navigator Holdings Q3 operating revenue inches up

  • Nov 3 - Seadrill posts Q3 net loss on legal provision impact


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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